I can put you in touch with a Melbourne office that holds information seminars at no charge.

Hi MM

This is a great discussion.
I have to tell you all that I an a registered real estate sales person in Queensland.  The laws in this state where changed in 2000 and it is not possible for agaents or developers to sell property at inflated prices here. Independant valuations determine the price of the property, not a money hungry seller.

I also talk to prople about wealth creation through property investment, however I don't sell in bulk.

I have recently come in contact with a company here in Brisbane that does approach developers on behave of it's clients in order to bulk pruchase. http://www.jdlstrategies.com.au/

Maybe they can help you.

I hope you find this information useful  and please get professional advice.

Hello AdamTR,

I think the advice you are hoping for is something like this.

I suspect that the property you have in mind is not new and has been built a few years ago.  I say this becuase a property near the sea in WA is most likely going to cost more than 370k if it is new.

You may be abe to get a Free Suburb Profile which will show you the growth for each year since 2003 here http://www.reports.rpdata.com.au/cgi-bin/vgmsg/RP_Reports/subprofile/rprephome.p?type=1

Whenever considering the possible growth of a property you should understand that there exists a Property Cycle.

The Property Cycle that has occured in past years since 1960 in major Australian cities has seen the value of property increase substantially every 7 – 10 years.  In some cases the value of property in major metro areas has doubled every seven years.
The last boom that occured was in 2004, so an expected boom is approaching in 2010/11. At present the market is just coming out of the mid point in the cycle that sees the lowest number of sales and therefore growth. I hope you understand.

If the property in new you can claim Depreciation of the building and depreciation of the fittings (Curtains, carpets, air con etc) as tax deductions from the income of all parties applying for the loan.

If it is not new than you can only claim the expenses for the property such as property management fees, repairs etc.

An Accountant can help you to fill out and submit a Tax Variation Form which will allow you to pay a reduced rate of tax from your weekly income, this will improve your cashflow and help you to service the loan.

I hope you find this information Usefull but please do get professional advice.

My office is in Brisbane

Hi James007

Can you give us an idea of where you want to build.

I have access to a few builders that can do a start to finish job for you in South East Queensland.

Happy to help you out if thats where you are.

Hi.
Yes I agree, providing furniture in your investment apartment can cause you to incur additional expenses at time.  There are a couple of upsides to having a fully furnished apartment – obviously or in- obviously you are able to claim the depreciation expense as a tax deduction. Furniture can be depreciated over 5 years, after which it may effectively be worthless and may also require replacement at times.  It is essential you have a Depreciation Schedule drawn up usually by a Quanity Surveyor.
An account can then help you to fill out and submit a Tax Variation Form which essentially allows to to pay a reduced rate of tax from you regulary income each week, and this then has the effect of increasing your cash flow to help service you loan.
It is in your best interests to get professional advice about these things from an Accountant or Financial Planner.

Having a fully furnished apartment, especially in a tourist location like Cairns, can provide a more attractive and marketable rental to your potential clients.

Regarding being able to live in your investment – There are two options to consider.
First, presenting your investment apartment to the market as Short Term Accomodation can provide you with a very fluid return.
There are Property Management companies around that specialise in this type of accomodation and it can be presented to the market at a weekly or even a nightly rate that enables you to effectively receive a higher rental return.
This can have the effect of transforming your investment property into a positively geared property that actually generates income for you.
If you choose this options and do infact have the property as short term accomodation, you can simply make a booking with the property management and enjoy your stay.

Second, whenever you decide to change one of your investment properties into your own home ie. your principle place of residence, it may cause you to be suseptable to the following situation:-  Normally the loan you acquire to buy your own home requires that the lender place a mortage on the property. This is different for investments as the mortgate only exists on your own home.  If your move from your home to another premises and turn your home into an investment rental property then it becomes subject to Capital Gains Tax for the entire time you retain it until it is sold at some time in the future.
You are given a period of grace of (I think) 60 days from the date you vacate the property (your own home) during which the sale is not subject to capital gains tax.  The advice I have received from an Accountant for one of my clients regards this is that they should sell the property immediately upon vacating it in order to pay the least amount of tax.

I hope you find this information useful and informative, but please be sure to get professional advice.

I appologize for any typo's

I can direct you to a current Apartment Project in Cairns if you wish 
My office is located in Brisbane.